Monarques Resources (TSXV:MQR) Receives Initial Buy Recommendation from eResearch Corp - Video Summary of Report Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia - November 3, 2011 - Toronto based eResearch has
initiated coverage on Monarques Resources (TSXV:MQR), giving the company a
speculative buy recommendation with a 12 month target price of $0.40, a healthy
premium to today's price of $0.24.
InvestmentPitch.com has produced a "video news alert" based on the eResearch
report. If this link is not enabled, please visit www.InvestmentPitch.com and
enter "Monarques" in the search box.
Monarques is a spin-off from Nemaska Explorations (TSXV:NMX), and was structured
to hold Nemaska's non-lithium properties.
The company's initial public offering in June brought in $6 million. It
consisted of 8 million flow through shares priced at $0.50, and 5 million units
priced at $0.40, with each unit consisting of one common share at $0.40, and
one-half of one common share purchase warrant. Each warrant entitles its holder
to purchase one common share at $0.45 until December 10, 2012. Nemaska retained
approximately 15 million shares or 47% of Monarques.
The company has 7 properties in northern Quebec's James Bay region, covering a
large variety of minerals, ranging from copper, nickel, gold, silver, zinc
through to the platinum group metals and rare earth elements. Monarques has been
actively acquiring additional properties all within 10 to 20 kilometres of its
key properties. All of the company's properties are accessible year round.
The flagship Nisk property hosts the Nisk-1 deposit, with a 2009 NI 43-101
compliant resource estimate of 2.04 million tonnes in the Measured & Indicated
resource categories, containing 47.4 million pounds of nickel and 34.6 million
pounds of copper. There is an additional 1.05 million tonnes in the Inferred
category containing 18.8 million pounds of nickel and 7.4 million pounds of
copper. This resource estimate is based only on 900 metres, which have been
drilled, out of 4 linear kilometres of the property.
The Nisk property is located about 6 kilometres north of Hydro-Québec's Albanel
transmission station and can be accessed by a private gravel road belonging to
Hydro-Québec.
The company has an extensive exploration program underway, for which it has
allocated $4 million. It plans to extensively drill its Nisk property where 2
new anomalies were discovered in the summer of 2011. Upon the discovery of these
2 anomalies, the company decided to delay the updated resource estimate for this
property, while drilling explores the continuity of the mineralization.
The company's ambitious exploration program is well covered in the eResearch
report. For a copy of the report, contact eResearch at www.eResearch.ca. While
on their site be sure to sign up for their free research.
For a more information about Monarques Resources, please visit their website at
www.monarquesresources.com, or phone Wanda Cutler at 416 303-6460 or email
wanda.cutler(at)monarquesresources.com.
InvestmentPitch.com is a multimedia company that provides a combined solution
for creating, hosting, and distributing financial video content across multiple
platforms to investors and financial professionals. InvestmentPitch.com
specializes in producing short three minute videos based on news releases and
research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 03.11.2011 - 23:05 Uhr
Sprache: Deutsch
News-ID 83998
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